Decillion Finance Ltd Auditor Reports

TO THE MEMBERS OF DECILION FINANCE LIMITED

Report on the Audit of the Financial Statements

Opinion

We have audited the financial statements of Decillion Finance Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2025, the Statement of Pro t and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year then ended, and notes to the financial statements, including a summary of significant accounng policies and other explanatory informaon (hereina er referred to as "the Financial Statements").

In our opinion and to the best of our informaon and according to the explanaons given to us, the aforesaid financial statements give the informaon required by the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with the Indian Accounng Standards prescribed under secon 133 of the Act read with the Companies (Indian Accounng Standards) Rules, 2015, as amended, ("Ind AS") and other accounng principles generally accepted in India, of the state of a airs of the Company as at March 31, 2025, and total comprehensive income (comprising of Net Pro t and other comprehensive income), changes in equity and its cash flows for the year then ended.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auding (SAs)speci ed under secon 143(10) of the Companies Act, 2013. Our responsibilies under those Standards are further described in the Auditors Responsibili es for the Audit of the Financial Statements secon of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Instut e of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibilies in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Ma_ers

Key audit ma ers are those ma ers that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These ma ers were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these ma ers. We have determined the ma ers described below to be the key audit ma ers to be communicated in our report.

Sr Key Audit Matter No.	How the matter was addressed in our audit
1 Management estimates impairment provision using Expected Credit loss model for the loan assets. Measurement of loan impairment involves application of significant judgement by the management. The most significant judgements are:	1) In our audit approach we assessed the basis upon which the ECL model is build and discussed with the management of the Company in order to understand the mechanics of ECL deployed by the company to measure the loan impairment.
Timely identification and classification of the impaired loans.	2) We examined that Board does not have approved policy for computation of ECL, but have in place the internal guidelines for computation of ECL. These internal guidelines address procedures and controls for assessing and measuring the credit risk on its loan portfolio.
Determination of probability of defaults (PD) and estimation of loss given defaults (LGD) based on the premise that loans made by the company are unsecured and relevant factors	3) We evaluated the operating effectiveness of controls across the process relevant to ECL including the judgments and estimates.
The estimation of Expected Credit Loss (ECL) on financial instruments involve significant judgments and estimates. Following are points with increased level of audit focus:	4) We evaluated the nature of loan assets of the company and held discussions with the management and assessed that the company has only one class of loan i.e. unsecured loans repayable on demand and 12 month ECL is just the same as lifetime ECL, because the all the loans are repayable on demand, which is shorter than 12 months as a result life time of a loan is that short period required to transfer cash when demanded by the company.
• Classification of assets to stage 1, 2 or 3 using criteria in accordance with Ind AS 109.	5) We tested the completeness of loans and advances included in the Expected Credit Loss calculations as of March 31, 2025 by reconciling it with the balances as per loan balance register as on date.
• Accounting interpretations, assumptions and data used to build the models;	6) We tested assets on sample basis to verify that they were allocated to the appropriate stage.
• Inputs and judgements used by the management at various assets stages	7) For samples of exposure, we tested the appropriateness of determining EAD, PD and LGD
• The disclosures made in the financial statements for ECL especially in relation to judgements and estimates made by the management in determination of the ECL.	8) For forward looking assumptions used in ECL calculations, we held discussions with management, assessed the assumptions used to determine the probability weights assigned to the possible outcomes. During our examination we assessed that company estimates the PD based on historical observed default rates adjusted for forward looking estimates, based upon macro-economic developments occurring in the economy and market it operates
• Considering the significance of such allowances to the overall financial statements and degree of judgement and estimation involved in computation of expected credit losses, this area is considered as key audit matter.	9) We performed an overall assessment of the ECL provisions if they were reasonable considering the
	Companys portfolio, risk profile, credit risk management practices and the macro-economic environment.
	10) We assessed the adequacy and appropriateness of disclosures in compliance with accounting standards in relation to judgements used in estimation of ECL provisions.

Descripon of Key Audit Ma_er

Provision for expected credit losses (ECL) on loans (refer note no 5.2(f), note no 10 and Note 33(2)(a) of the

financial statements

Informaon other than the Financial Statements and Auditors Report thereon

The Companys Board of Directors is responsible for the other informaon. The other informaon comprises the informaon included in the Managements Discussion and Analysis, Boards Report including Annexure to Boards Report, Corporate Governance Report included in the Companys annual report, but does not include the financial statements and our auditors report thereon.

Our opinion on the financial statements does not cover the other informaon and we do not express any form of assurance conclusion thereon.

In connecon with our audit of the financial statements, our responsibility is to read the other informaon and, in doing so, consider whether the other informaon is materially inconsistent with the financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If based on the work we have performed; we conclude that there is a material misstatement of this other informaon; we are required to report that fact. We have nothing to report in this regard.

When we read the other informaon included in the above reports, if we conclude that there is material misstatement therein, we are required to communicate the ma er to those charged with governance and determine the acons under the applicable laws and regulaons.

Managements Responsibility and those charged with governance for the Financial Statements

The Companys Board of Directors are responsible for the ma ers stated in secon134(5) of the Act with respect to the preparaon of these financial statements that give a true and fair view of the financial posion, financial performance, changes in equity and cash flows of the Company in accordance with the Indian Accounng Standards (Ind AS) specified under Secon 133 of the Act and other accounng principles generally accepted in India. This responsibility also includes maintenance of adequate accounng records in accordance with the provisions of the Act for safe guarding of the assets of the Company and for prevenng and detecng frauds and other irregularies; selecon and applicaon of appropriate accounng policies; making judgments and esma tes that are reasonable and prudent; and design, implementaon and maintenance of adequate internal financial controls, that were operang e ecv ely for ensuring the accuracy and completeness of the accounng records, relevant to the preparaon and presentaon of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, Management is responsible for assessing the Companys ability to connue as a going concern, disclosing, as applicable, ma ers related to going concern and using the going concern basis of accounng unless management either intends to liquidate the Company or to cease operaons, or has no realisc alternav e but to do so.

The Board of Directors are also responsible for overseeing the Companys financial reporng process.

Auditors Responsibilies for the Audit of the Financial Statements

Our objecv es are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepcism throughout the audit. We also:

Iden_fy and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecng a material misstatement resulng from fraud is higher than for one resulng from error, as fraud may involve collusion, forgery, intenonal omissions, misrepresentaons, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under secon 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial control system in place and the operang e ecv eness of such controls.

Evaluate the appropriateness of accoun_ng policies used and the reasonableness of accounng esma tes and related disclosures made by management.

Conclude on the appropriateness of managements use of the going concern basis of accounng and, based on the audit evidence obtained, whether a material uncertainty exists related to events or condions that may cast significant doubt on the Companys ability to connue as a going concern. If we conclude that a material uncertainty exists, we are required to draw a enon in our auditors report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or condions may cause the Company to cease to connue as a going concern.

Evaluate the overall presenta_on, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transacons and events in a manner that achieves fair presentaon.

Materiality is the magnitude of misstatements in the financial statements that, individually origin aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be in uenced. We consider quant av e materiality and qualitav e factors in

(i) planning the scope of our audit work and in evaluang the results of our work; and

(ii) to evaluate the effect of any iden ed misstatements in the financial statements.

We communicate with those charged with governance regarding, among other ma ers, the planned scope and ming of the audit and significant audit ndings, including any significant deficiencies in internal control that we idenf y during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relaonships and other ma ers that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the ma ers communicated with those charged with governance, we determine those ma ers that were of most significance in the audit of the financial statements of the current period and are therefore the key audit ma ers. We describe these ma ers in our auditors report unless law or regulaon precludes public disclosure about the ma er or when, in extremely rare circumstances, we determine that a ma er should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communicaon.

Report on Other Legal and Regulatory Requirements

1) As required by the Companies (Auditors Report) Order, 2020 ("the Order") issued by the Central

Government in terms of Secon143(11) of the Act,applicable from 01 April, 2021, we give in the "Annexure B" a statement on the ma ers specified in paragraph 3 and 4 of the order, to the extent applicable.

2) As required by Secon 143(3) of the Act, we report that:

a) We have sought and obtained all the informaon and explanaons which to the best of our knowledge and belief were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examinaon of those books.

c) The Balance Sheet, the Statement of profit and loss (including other comprehensive income), the Statement of Changes in Equity and the Statement of cash flow dealt with by this Report are in agreement with the relevant books of account.

d) In our opinion, the aforesaid financial statements comply with the Accounng St andards specified under Secon 133 of the Act.

e) On the basis of the wri en representaons received from the directors as on March 31, 2025 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2025 from being appointed as a director in terms of Secon 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls with reference to nancials statements of the Company and the operang e ecv eness of such controls, refer to our separate Report in "Annexure A".

g) With respect to the other ma ers to be included in the Auditors Report in accordance with Rule 11 of the

Companies (Audit and Auditors) Amendment Rules, 2021, e ecv e from 01 April 2021, in our opinion and to best of our informaon and according to the explanaons given to us:

a) The Company did not have any significant pending lig aons as at March 31, 2025, which may effect on its financial posion in a substanal way

b) The Company did not have any long-term contracts including derivav e contracts for which there were any material foreseeable losses, during the year ended March 31, 2025.

c) During the year no amounts were required to be transferred, to the Investor Educaon and Protecon Fund by the Company, so the queson of delay in transferring such sums does not arise.

d) Omiued by the Companies (Audit and Auditors) Amendment Rules 2021, e ecv e from 01 April, 2021

e) (i) The Management has represented that, to the best of its knowledge and belief, as disclosed in Note 33(6)(14)(A) to the financial statements, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or enty(ies), including foreign enes ("Intermediaries"), with the understanding, whether recorded in wring or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or enes iden ed in any manner whatsoever by or on behalf of the Company ("Ulma te Bene ciaries") or provide any guarantee, security or the like on behalf of the Ulma te Bene ciaries.

(ii) The Management has represented, that, to the best of its knowledge and belief, as disclosed in Note 33(6)(14)(B) to the financial statements, no funds have been received by the Company from any person(s) or enty(ies), including foreign enes ("Funding Pares"), with the understanding, whether recorded in wring or otherwise, that the Company shall, directly or indirectly, lend or invest in other persons or enes iden ed in any manner whatsoever by or on behalf of the Funding Party ("Ulma te Bene ciaries") or provide any guarantee, security or the like on behalf of the Ulma te Bene ciaries.

(iii) Unmodi ed Opinion: Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, nothing has come to our noce that has caused us to believe that the representaons under sub-clause (i) and (ii) of Rule 11(e) contain any material mis-statement.

f) No dividends were declared or paid during the year by the Company, hence compliance with Secon 123 of the Companies Act, 2013 is not applicable.

g) With respect to the ma ers to be included in the Auditors Report in accordance with Rule 11(g) Companies (Audit and Auditors) Rules 2014 e ecv e from 1 April 2023, in our opinion and to the best of our informaon and according to the explanaons given to us and based on our examinaon which included test checks, the Company have used an accounng sow are for maintaining its books of accounts which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transacons recorded in the sow are in compliance to the Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 (or maintaining books of account using accounng sow are which has a feature of recording audit trail (edit log) facility as applicable to the company with effect from April, 2023). Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with.

Further pursuant to Proviso to Rule 3(1) of the Companies (Accounts) Rules 2014 for reporng r equirement for preservance of Audit trail by the company, the company has preserved/retained the audit trail and the same has not been tampered with.

3) With respect to the ma er to be included in the Auditors Report under Secon 197(16) of the Act:

In our opinion and according to the informaon and e xplanaons giv en to us, the remuneraon paid by the Company to its directors during the current year is in accordance with the provisions of Secon 197 of the Act read with Schedule V to the Act.

Annexure - A to the Independent Auditors Report

With reference to the Annexure A referred to paragraph 2 (f) underReport on Other Legal and Regulatory Requirements of the Independent Audit Report of even date to the members of the DECILLION FINANCE LIMITED ("the Company") on the financial statements as on and for the year ended March 31, 2025, we report the following:

Report on the Internal Financial Controls with reference to Financial Statements under Clause (i) of Sub-

secon 3 of Secon 143 of the Companies Act, 2013 (the "Act")

We have audited the internal financial controls with reference to financial statements of DECILLION FINANCE LIMITED ("the Company") as of March 31, 2025 in conjuncon with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys Management and the Board of Directors of the Company are responsible for establishing and maintaining internal financial controls based on the internal financial controls with reference to financial statements criteria established by the Company considering the essenal component of stated in the Guidance Note issued by the Instut e of Chartered Accountants of India. These responsibilies include the design, implementaon and maintenance of adequate internal financial controls that were operang e ecv ely for ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the prevenon and detecon of frauds and errors, the accuracy and completeness of the accounng records, and the mely preparaon of reliable financial informaon, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the internal financial controls with reference to financial statements based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporng (the "Guidance Note") issued by the Instut e of Chartered Accountants of India and the Standards on Auding prescribed under Secon143(10) of the Companies Act,2013, to the extent applicable to an audit of internal financial controls with reference to financial statements. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to standalone financial statements were established and maintained and whether such controls operated e ecv ely in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to financial statements and their operang e ecv eness. Our audit of internal financial controls with reference to financial statements included obtaining an understanding of such internal financial controls, assessing the risk that a material weakness exists, and tesng and evaluang the design and operang e ecv e internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit

opinion on the Companys internal financial controls with reference to financial statement.

Meaning of Internal Financial Controls with reference to Financial Statements.

A companys internal financial control with reference to financial statement is a process designed to provide

reasonable assurance regarding the reliability of financial reporng and the preparaon of financial statements for external purposes in accordance with generally accepted accounng principles. A companys internal

financial control with reference to financial statement includes those policies and procedures that:-

(i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the

transacons and disposions of the assets of the company;

(ii) provide reasonable assurance that transacons are recorded as necessary to permit preparaon of financial statements in accordance with generally accepted accounng principles, and that receipts and expenditures of the company are being made only in accordance with authorizaons of management and directors of the company; and

(iii) provide reasonable assurance regarding preven on or mely detec on of unauthorized acquision, use, or disposion of the companys assets that could have a material effect on the financial statements.

Inherent Limitaons of Internal Financial Controls with Reference to Financial Statements

Because of the inherent limitaons of internal financial controls with reference to financial statements including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projecons of any evaluaon the internal financial controls with reference to financial statements to future periods are subject to the risk that the internal financial control with reference to financial statements may become inadequate because of changes in condions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls with reference to financial statements and such internal financial controls with reference to financial statements were operang e ecv ely as at March 31, 2025, based on the internal control with reference to financial statements criteria established by the Company considering the essenal components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporng issued by the Instut e of Chartered Accountants of India (the Guidance Note).

Annexure - B to the Independent Auditors Report

Referred to in paragraph 1 of the Independent Auditors Report of even date to the members of Decillion Finance Limited Company on the financial statements as of and for the year ended March 31, 2025, we report the following:

i. In respect of the Companys Property, plant and equipment:

(a) The Company does not have any property, plant and equipment. The Company does not have any intangible assets, hence reporng under clause (i) (a) of the Order is not applicable.

(b) The Company does not have any property, plant and equipment and hence reporng under clause (i) (b) of the Order is not applicable.

(c) The Company does not have any immovable properes of freehold or leasehold land and building and hence reporng under clause (i) (c) of the Order is not applicable.

(d) The Company does not have any property, plant and equipment and hence reporng under clause (i) (d) of the Order is not applicable.

(e) According to the informaon and explanaons given to us and on the basis of our examinaon of the records of the Company and as stated in Note no 33 (1) to the financial statements, no proceedings have been inia ted or are pending against the Company for holding any benami property under the Benami Transacons (Prohibions) Act, 1988 (45 of 1988) and rules made there under

ii. (a) The Company is in the business of providing loans, making investments in shares and securies and does not have any physical inventories. Accordingly, reporng under clause (ii) (a) of the Order is not applicable.

(b) In our opinion and according to the informaon and explanaons given to us, at any point of me of the year, the Company has not been sanconed working capital limits in excess of ve crores, in aggregate, from banks or financial instuons on the basis of security of currents assets, and hence reporng under clause (ii) (b) of the Order is not applicable.

iii. (a) Since the Companys principal business is to give loans, the provisions of clause (iii) (a) of the Order are not applicable to it.

(b) In our opinion and according to the informaon and explanaons given to us, the investments made, and the terms and condions of the grant of loans and advances in the nature of loans provided are, prima facie, not prejudicial to the Companys interest

(c) In our opinion and according to the informaon and explanaons given to us, in respect of loans and advances in the nature of loans, the loans are repayable on demand and schedule of payment of interest has been spula ted and repayments or receipts are regular during the year

(d) In our opinion and according to the informaon and explanaons given to us, no amount is overdue in respect of loans and advances in the nature of loans.

(e) Since the Companys principal business is to give loans, the provisions of clause (iii) (e) of the Order are not applicable to

(f) In our opinion and according to the informaon and explanaons given to us, the Company has granted loans or advances in the nature of loans to Related pares (as defined in Secon 2(76) of the Act) which are repayable on demand. Required details in respect thereof are as follows:

Parcular s	All pares	Promoters	Related Pares
Aggregate number of loans
/advances in nature of loans
Repayable on demand (A)	127,546.27	37,783.30	39,647.59
Agreement does not specify any terms or period of repayment (B)	Nil	Nil	Nil
Total (A) + (B)	127,546.27	37,783.30	39,647.59
Percentage of loans/advances in nature of loans to the total loans	100%	29.62%	31.08%

iv. In our opinion and according to the informaon and explanaons given to us, the Company has complied with the applicable provisions of Secons 185 and 186 of the Act with respect to the loans given, and investments made. Further the Company has not given guarantees or provided security. The Company is a non-banking financial company, due to which its investments are exempted under Secon 186(11) (b). The Company has not made investments through more than two layers of investment companies in accordance with the provisions of sec on 186(1) of the Act. Accordingly, the Company has complied with the provisions of Secons 185 and 186 of the Act, as applicable.

v. In our opinion and according to the informaon and explanaons given to us, the Company has not accepted any deposits from public within the meaning of secons 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules framed there under and hence reporng under clause (v) of the Order is not applicable.

vi. The maintenance of cost records has not been prescribed for the acvies of the Company by the Central Government under Secon 148(1) of the Companies Act, 2013.

vii. a) The Company is generally regular in deposing with appropriate authories, undisputed statutory dues including Income Tax, provident fund, employee state insurance Goods and Services Tax, and other statutory dues as may be applicable to it and the extent of the arrears of outstanding Statutory dues as on the last day of the financial year concerned were not for a period of more than six months from the date, they become payable.

As informed, the provisions of provident fund, employee state insurance and Goods and Services Tax are currently not applicable to the Company.

b) In our opinion and according to the informaon and explanaons given to us, there are no statutory dues which have not been deposited with the appropriate authority on account of any dispute.

viii. In our opinion and according to the informaon and explanaons give to us and on the basis of our examinaon of the records of the Company, we con rm that we have not come across any transacons recorded in the books of account which reflected income surrendered or disclosed during the year in the tax assessments under the Income Tax Act 1961.

ix. (a) In our opinion and according to the informaon and explanaons given to us and on the basis of our examinaon of the records of the Company, the Company has not defaulted in repayment of loans or other borrowings or in payment of interest thereon to any lender or financial instuons during the year. The Company does not have any borrowings from banks, or from the Government.

(b) According to the informaon and explanaons given to us and on the basis of our audit procedures, we report that the Company has not been declared willful defaulter by any bank or financial instuon or government or any government authority or any other lender. c) The Company has neither taken any term loan during the year nor there are unuliz ed term loans at the beginning of the year; hence, reporng under clause (ix)(c) of the Order is not applicable.

d) According to the informaon and explanaons given to us, and the procedures performed by us, and on an overall examinaon of the financial statements of the Company, we report that no funds raised on short-term basis have, prima facie, been used for long term purposes by the Company.

e) According to the informaon and explanaons given to us and on an overall examinaon of the financial statements of the Company, we report that the Company has not taken any funds from any enty or person on account of or to meet the obligaons of its subsidiaries. The Company does not have any joint ventures or associates or subsidiaries.

f) According to the informaon and explanaons given to us and procedures performed by us, we report that the Company has not raised loans during the year on the pledge of securies held in its subsidiaries. The Company does not have any joint ventures or associates or subsidiaries.

x. a) In our opinion and according to the informaon and explanaons given to us, the Company has not raised moneys by way of inial public offer or further public offer including debt instruments or term loans and hence reporng under this clause of the Order is not applicable to the Company.

b) The Company has not made any preferenal allotment or private placement of shares or converble debentures during the year.

xi. a) To the best of our knowledge and according to the informaon and explanaons given to us, no fraud by the Company or no material fraud on the Company by its o cers or employees has been noced or reported during the year.

b) According to informaon and explanaons given to us, no report under sub-secon (12) of Secon 143 of the Act has been led in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules 2014 with the Central Government, during the year and up to the date of this report.

c) As represented to us by the management there are no instances of whistle-blower complaints received during the year by the Company.

xii. In our opinion and according to the informaon and explanaons given to us, the Company is not a Nidhi company. Accordingly, reporng under clause (xii) of the Order is not applicable to the Company.

xiii. In our opinion and according to the informaon and explanaons given to us, the Company is in compliance with the provisions of Secon 177 and Secon 188 of the Companies Act, 2013 where applicable for all transacons with the related pares and the details of the related party transacons have been disclosed in the financial statements as required by the applicable Accounng Standards.

xiv. a) In our opinion and based on our examinaon, the Company has an internal audit system commensurate with the size and nature of its business. The Company has engaged a rm of Chartered Accountants to carry out internal audit and who submit their report to the Audit Commi ee and to the Board of Directors.

(b) The reports of the internal auditors for the period under audit have been considered by us.

xv. In our opinion and according to the informaon and explanaons given to us, during the year the Company has not entered into any non-cash transacons with its dir ectors or persons connected with them during the year. Accordingly, provisions of Secon 192 of the Companies Act, 2013 are not applicable to the Company.

xvi. (a) In our Opinion, the Company being a non-deposit taking non-systemac ally important Non-Banking Financial Company and is required to be registered under Secon 45-IA of the Reserve Bank of India Act, 1934 and the Company has duly obtained the required registraon.

(b) The Company has not conducted any Non-Banking Financial or Housing Finance acvies without a valid Cer c ate of Registraon (CoR) from the Reserve Bank of India as per Reserve Bank of India Act, 1934.

(c) According to the informaon and explanaons given to us by the management, the Company is not a Core Investment Company (CIC) as defined in the Regulaons made by the R eserve Bank of India hence Para 3(xvi)(c) and Para 3(xvi)(d) of the Order is not applicable to the Company.

xvii. The Company has not incurred any cash losses in the financial year and in the immediately preceding financial year.

xviii. There has been no resignaon of the Statutory Auditors of the Company during the year.

xix. According to the informaon and explanaons given to us and on the basis of the financial raos, ageing and expected dates of realizaon of financial assets and payment of financial liabilies, other informaon accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examina on of the evidence suppor ng the assumpons, nothing has come to our a enon, which causes us to believe that any material uncertainty exists as on the date of the audit report that company is not capable of meeng its liabilies exisng at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the company. We further state that our reporng is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilies falling due within a period of one year from the balance sheet date, will get discharged by the company as and when they fall due.

xx. The Provisions of Secon 135 of the Companies Act, 2013 is not applicable to the Company, hence reporng under {Para 3(xx)(a)} and {Para 3(xx)(b)} of the Order is not applicable to the Company.

xxi. The Company does not have any subsidiaries or associates or joint ventures, the accounts of which are to be consolidated and as such there are no consolidated financial statements. Hence reporng under {Para 3(xxi}of the Order is not applicable to the Company.

For Surajit Roy and Associates

Chartered Accountants

Firm Registraon Number: 326099E

Sd/-

CA Surajit Roy

Partner

Membership Number: 057260

UDIN: 25057260BMIEVS6969

Place: Kolkata

Date: 29-05-2025